Kokomo Tribune; Kokomo, Indiana

Z_CNHI News Service

November 15, 2013

EDITORIALS: Economic war with China; Ban on trans fats

America losing an economic war with China

(The Daily News of Newburyport, Mass.)

This is the time of year when many communities set property tax rates. Invariably, taxes are going up and the discussion will turn to lessening the burden by attracting new business - even if it means those businesses from a neighboring community.

As these situations play out every year, our communities fight over a fast-diminishing pool of manufacturers, the scraps of what was once a robust segment of our economy. We’re not alone. It’s happening in nations across the world, and the culprit is the same: China.

For 13 years we’ve been at the losing end of an economic war, one that we have largely refused to fight. Instead we’ve rattled our rhetoric ineffectively as losses have grown. It’s estimated that 57,000 American manufacturers have closed during that time. For many American workers, their final act is boxing up their manufacturing equipment to ship to China.

As of 2011, America is estimated to have lost 2.7 million manufacturing jobs directly to Chinese competition - plus an unknown number of jobs in related sectors.

This economic war began in 2001, after the United States and others championed China's entry into the World Trade Organization. This allowed China, which had a notorious reputation for unfair trade practices, to trade on par with nations that followed the WTO’s strict policies. It was naively thought that China's entry would mean it would start following the rules, that its working class would embrace democracy and prosperity, and that other nations would gain equal access to China’s economy.

None of those things happened. In the meantime, China continues its old tricks — subsidizing its private sector to destroy foreign competition, manipulating its currency to give itself a trade advantage, and suppressing workers. It has stolen intellectual property from U.S. companies and bullied American businesses attempting to enter its market. All as it continues to buy up our mounting public debt, furthering our dependence on it.

Text Only | Photo Reprints
Z_CNHI News Service
  • Brother sues W.Va. senator over business loan

    U.S. Sen. Joe Manchin's brother claims he's owed $1.7 million that he loaned to keep a family carpet out of bankruptcy in the 1980s.

    July 25, 2014

  • How spy agencies keep their 'toys' from law enforcement

    A little over a decade ago, federal prosecutors used keystroke logging software to steal the encryption password of an alleged New Jersey mobster, Nicodemo Scarfo Jr., so they could get evidence from his computer to be used at his trial.

    July 25, 2014

  • Russia's war on McDonald's takes aim at the Filet-o-Fish

    Russia said earlier this week that it had no intention of answering Western sanctions by making it harder for Western companies to conduct business in Russia.
    But all bets are off, apparently, when you threaten the Russian waistline.

    July 25, 2014

  • cleaning supplies Don't judge mothers with messy homes

    I was building shelves in my garage when a neighbor girl, one of my 4-year-old daughter's friends, approached me and said, "I just saw in your house. It's pretty dirty. Norah's mommy needs to clean more."

    July 25, 2014 1 Photo

  • taylor.armerding.jpg Inequality crisis shot with factual problems, hypocrisy

    President Obama, various media and political liberals say inequality, of all things, is the defining issue of our times. Yet this message is delivered by multimillionaires and a president who jets from tee time to stump speech on the taxpayer's dime.
     

    July 25, 2014 1 Photo

  • Arizona's prolonged lethal injection is fourth in U.S. this year

    Arizona's execution of double-murderer Joseph Wood marked the fourth time this year that a state failed to dispatch a convict efficiently, according to the Constitution Project, a bipartisan legal group.3

    July 24, 2014

  • Police Brutality screen shot. Technology plays key part in battling police brutality (VIDEO)

    Allegations of police brutality are nothing new -- as long as there has been law enforcement, citizens have registered claims that some officers cross the line. But in the last few years, the claims of excessive force are being corroborated with new technology from cell phone cameras, police dash-cams and surveillance videos. 

    July 24, 2014 1 Photo

  • Lindley, Tom.jpg Better police needed for college teams enticed to cheat

    The NCAA once cracked down on colleges that went too far luring top prospects, then it targeted teams that lathered players with special treatment. That was until the NCAA's get-tough approach backfired, rendering it ineffective and creating an opportunity for those who want to play dirty.

    July 24, 2014 1 Photo

  • Facebook continues moneymaking trend

    Facebook seems to have figured out - for now at least - the holy grail for all media right now: how to make money selling mobile ads.

    July 24, 2014

  • Has the ipad lost its swag?

    July 24, 2014

Latest news
Featured Ads
Only on our website
AP Video
Raw: Air Algerie Flight 5017 Wreckage Virginia Governor Tours Tornado Aftermath Judge Faces Heat Over Offer to Help Migrant Kids Kerry: No Deal Yet on 7-Day Gaza Truce Kangaroo Goes Missing in Oklahoma More M17 Bodies Return, Sanctions on Russia Grow Gaza Residents Mourn Dead Amid Airstrikes Raw: Deadly Tornado Hits Virginia Campground Ohio State Marching Band Chief Fired After Probe Raw: Big Rig Stuck in Illinois Swamp Cumberbatch Brings 'Penguins' to Comic-Con Raw: Air Algerie Crash Site in Mali Power to Be Restored After Wash. Wildfire Crashed Air Algerie Plane Found in Mali Israel Mulls Ceasefire Amid Gaza Offensive In Case of Fire, Oxygen Masks for Pets Mobile App Gives Tour of Battle of Atlanta Sites
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
Obituaries
Poll
Kelly Lafferty's video on Tom Miller